We know non-Texans roll their eyes when they hear Texans toot their horn about how great Texas is. There’s patriotism and then there’s Texas patriotism, right? We searched for other sources to find out what they thought about Texas, its economy, and its multifamily market right now.

 

Dallas downtown city urban bulidings view

 

Here are some key points:

The Economist
“Last year Texas grew by 5.2%, more than any American state besides North Dakota and more than double the growth rate of America overall.”

“Texas is unusual in several respects. It has multiple boomtowns: San Antonio and Austin, as well as Dallas-Fort Worth. Middle-class families are thriving, not just billionaires and supernerds.”

The Wall Street Journal
“Oil prices collapse but the Lone Star State keeps creating jobs.”

“Last week’s ‘beige book’ release from the Federal Reserve Bank of Dallas shows that despite the struggling oil and gas industry, the Texas economy is still enjoying moderate growth.”

“Meanwhile in Austin, which has little exposure to the energy industry, business other than government is still booming. May job growth surged at an annual rate of 6.6%, including ‘a significant increase in high-paying scientific and technical services jobs’. Texas is now America’s top technology exporter, surpassing long-time leader California.”

Housingwire
“Locally, however, renters were leasing up units almost as fast as they came on the market…Renters leased 15,226 units during 2014, when 15,575 units were completed, making North Texas the strongest market nationwide.”

“For homeownership, buyer traffic slipped in December, with the buyer traffic index dropping to 22 from 33 in November.”

“Year-end occupancy across the North Texas market was 94.7%, which is a 13-year peak.”

Housingwire
“Here are the top 10 best markets list for real estate investing, from least best to greatest:

10. Raleigh, North Carolina
9. Nashville, Tennessee
8. Charleston, South Carolina
7. San Antonio, Texas
6. Orlando, Florida
5. Seattle, Washington
4. Austin, Texas
3. Houston, Texas

2. Dallas, Texas
1. Denver, Colorado

Others have spoken and we’ve listened which is why Casoro Capital’s Real Estate Fund I targets multifamily properties in Dallas-Fort Worth, Austin, San Antonio, and Houston. We know these markets are strong and will continue to be so for the foreseeable future.